JPMorgan Chase & Co. Upgrades Doximity (NASDAQ:DOCS) to “Neutral”

Doximity (NASDAQ:DOCS) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report issued on Thursday, FinViz reports. The brokerage presently has a $25.00 target price on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 4.52% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Evercore ISI reaffirmed an “in-line” rating and issued a $30.00 target price on shares of Doximity in a report on Tuesday, April 2nd. Leerink Partnrs reaffirmed a “market perform” rating on shares of Doximity in a report on Monday, February 26th. Morgan Stanley reaffirmed an “underweight” rating and issued a $25.00 target price on shares of Doximity in a report on Tuesday. Truist Financial upped their price target on shares of Doximity from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, SVB Leerink initiated coverage on shares of Doximity in a research report on Monday, February 26th. They set a “market perform” rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Doximity currently has a consensus rating of “Hold” and an average target price of $28.82.

Doximity Trading Down 2.7 %

Shares of DOCS stock opened at $23.92 on Thursday. Doximity has a 1 year low of $19.71 and a 1 year high of $36.92. The firm’s fifty day simple moving average is $27.22 and its 200 day simple moving average is $26.19. The firm has a market capitalization of $4.46 billion, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, February 8th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $135.28 million for the quarter, compared to analyst estimates of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. Equities research analysts anticipate that Doximity will post 0.72 EPS for the current fiscal year.

Insider Activity

In other news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $26.97, for a total value of $67,425.00. Following the completion of the sale, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $276,658.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 39.40% of the stock is currently owned by company insiders.

Institutional Trading of Doximity

Large investors have recently bought and sold shares of the business. First Horizon Advisors Inc. increased its stake in Doximity by 111.3% during the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after purchasing an additional 524 shares in the last quarter. GAMMA Investing LLC bought a new stake in Doximity during the 4th quarter worth approximately $40,000. Creative Financial Designs Inc. ADV grew its stake in shares of Doximity by 16.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,301 shares of the company’s stock worth $93,000 after acquiring an additional 473 shares in the last quarter. CWM LLC grew its stake in shares of Doximity by 57.2% during the 3rd quarter. CWM LLC now owns 4,982 shares of the company’s stock worth $106,000 after acquiring an additional 1,813 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Doximity during the 3rd quarter worth approximately $109,000. 87.19% of the stock is owned by institutional investors.

About Doximity

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.